PROFESSOR’S VIEW

Dominion, Volume 32, Issue 262, 3 August 1939, Page 11

PROFESSOR’S VIEW

Budget Seen As Stop-Gap By Telegraph—Frees Association. CHRISTCHURCH, August 2. “The Budget ainpeans to he mainly a stop-guip. Like Mr. iNasfli, the Government is deferring the evil day when it will have to face up to the difficulties it has got into, and into which it appears to he sinking deeper,” said Professor Tocker last night. It did not seam to be .twogn-ized, he said, inside or outside the ’House, that the arrangements for export credit, which would ease the immediate difficulties of imports, merely deferred the need for payment and relieved the present strain at the cost of a greater strain in the future. In addition, Mr, Nash’s conversion arrangements would mean that the strain would -be further increased when transfers had to he made to repay £4,500,000 yearly of debt conversion in London. Furthermore, the Government had about £lB,000 000 of conversions falling due in New Zealand in the next few years. PRUDENT BUDGET London Newspaper’s View (Independent Cable Service.) (Received August 2, 9.30 p.m.» LONDON, August 2. The “Daily Telegraph” (Independent Conservative) hails as prudent the New Zealand Budget and says that the decision to cover the deficit due to armament from taxation is welcome evidence that the Government realizes it cannot persist in lavish expenditure upon social services and higher standards of living without paying as it goes. . The Budget is described as grim, but all budgets in the prevailing conditions wear that aspect.